A Flipkart listing could throw some banks and IT companies out of Sensex: Pashupati Advani

As I mentioned a year ago, that we could have Flipkart listed and be in the index straight away because of its market capitalisation.In a chat with ET Now, Pashupati Advani, shares his market outlook. Excerpts:

ET Now: I, have never seen such a divided market as we have rolled over from 2015-2016. If I look at the market mood frankly, there is no sectoral preference, banks - the opinion is divided, pharma is in a mess, IT growth is an issue, for industrials and cyclical general recovery is not around the corner, FMCG is expensive, there is just no sectoral leadership in this market and sometimes when there is so much of confusion and chaos and if there are no favourites that are always a great news because expectations are low then?

Pashupati Advani: No, that is for sure. I think foreign money is coming in, but it is coming into things like the new economy: whether it is food delivery, the internet and all the businesses that will associate with that and we have seen a whole bunch of deals get done in October and November. December was not a good month, but October and November whole bunch of refinancing and people have picked up, even more, money and whether it is furniture, whether it is online cars, whether it is Ola, that is where the money seems to be coming in and that is going to provide jobs, it is going to provide opportunities, it is also going to provide some kind of a growth stimulus and hopefully, in time some of these companies will get listed.

As I mentioned a year ago, that we could have Flipkart listed and be in the index straight away because of its market capitalisation. That will change a lot of things if we have to throw some banks and IT companies out of the index to make room for it. So, I think that is a kind of thing that will happen whether it is going to happen in 2016 or not, I do not know. I thought it would happen in 2015, but instead, of that, we had QIPs and FPOs.

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